Hyatt Hotels Corp. partners with Japanese operator, forms 50-50 JV

Hyatt Hotels Corp. and Japanese operator Kiraku have signed a 50-50 joint venture to develop modern-style hot spring ryokans (Japanese-style inn) hotels in Japan targeting global travelers under the new hospitality brand, ATONA.

Japan was ranked as the world’ No.1 tourist destination in the world out of 117 countries and regions according to the recent Travel and Tourism Development Index (TTDI 2021) and published by the World Economic Forum. Each region in Japan is home to an unique culture and landscape, many of which are still relatively unknown to most of the world. Leveraging the interest of global travelers to the country, the ATONA brand will express the unique charm of each region’s architecture, design, cuisine, activities, and hospitality through the ryokan experience. Centered around the onsen (hot spring), a treasured part of Japanese culture, the ryokans built by the joint venture will feature a modernized style that will serve as the base of each guest’s j